Costa Rica - Investment Policy Review - OECD

Costa Rica signs OECD agreement to boost investment

30/09/2013 - Costa Rica today became the 45th country to adhere to an OECD international investment instrument designed to help the country attract more and better foreign investment and promote responsible business conduct.

Welcoming Costa Rica’s signing of the OECD Declaration on International Investment and Multinational Enterprises...

This comprehensive review of Costa Rica's investment policies was undertaken in light of the government's expressed desire to adhere to the OECD Declaration on International Investment and Multinational Enterprises.

The review examines Costa Rica’s achievements in developing an open and transparent investment regime and its efforts to reduce restrictions on international investment. It includes a special chapter on the country's investment framework in support of green growth, focusing on the country’s policies regulations and institutions to facilitate and promote green investment.

The report makes a series of recommendations to address key challenges facing Costa Rica. These include:

Make better use of Public Private Partnerships in transport and electricity, develop management expertise, and offer more opportunities for foreign investors to participate in PPP projects. This will help modernise the electricity sector, meet growing demand and ultimately reduce costs;

streamline and modernise procedures for doing business and cut red tape to facilitate domestic and foreign investment;

Reinforce partnerships between the government, universities, R&D centres and the private sector to meet a growing gap between supply and demand in priority sectors, notably high-tech industries;

Continue its efforts to fight corruption in the public sector and foreign bribery as set out in the Guidelines for Multinational Enterprises.